ExxonMobil Eyes Long-Term U.S. LNG Deals with EU Amid $750B Energy Pledge

ExxonMobil expects the European Union to commit to long-term liquefied natural gas (LNG) contracts with the United States following the bloc’s recent $750 billion pledge to buy American energy by 2028, the Financial Times reported.

Peter Clarke, Exxon’s senior vice president for LNG, said Europe’s rapidly expanding LNG infrastructure makes it “logical” for the region to secure supply through multi-decade deals. Exxon currently sells about 80% of its LNG under such long-term contracts, a model the company sees as essential for stability in global energy markets.

The EU has increasingly turned to the U.S. as its top LNG supplier, importing 50% of its liquefied natural gas, 17% of oil, and 35% of coal in 2024, according to Eurostat. Clarke noted that U.S. LNG shipments to Europe jumped 20% year-on-year, with 55% of imports originating from American exporters.

The trade relationship underscores Europe’s reliance on U.S. energy as it shifts away from Russian supplies. With the U.S. now the world’s largest LNG exporter, any expansion in transatlantic energy trade is likely to focus on LNG. Clarke emphasized that Europe is now “the most important market” for U.S. LNG exports, and the next step will be for the continent “to figure out how it supports long-term contracting.”

Energy analysts say securing long-term U.S. LNG deals could help the EU balance its energy security goals with climate transition plans, though such contracts may face political scrutiny. Neither Exxon nor the EU immediately responded to requests for comment on the potential agreements.

The developments highlight how U.S. LNG is becoming a cornerstone of Europe’s energy mix, with multi-decade contracts poised to lock in supply stability and strengthen the EU-U.S. energy alliance.